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Bethenny Reveals Her Money Mistakes

Bethenny Reveals Her Money Mistakes

The road to $120 million didn't come without some bumps and bruises.

By
Lauren Metz

Sure, she's banked $120 million, but Bethenny Frankel's road to riches included a few potholes.

"Starting a business isn't cheap - plain and simple. Well let me rephrase: starting a business can be inexpensive, but if and when that business takes off then every little detail will be expensive: legal fees, trademarks, accounting, marketing, etc.," the Forbes diva advises on her website. "In the event that the business doesn't do well, spending good money after bad can get gnarly as well. Been there done that."

Giving the next generation of entrepreneurs-in-the-making the benefit of her moolah smarts, our Bethenny Ever After frontwoman also shared, "You must have a set plan (that you may or may not actually stick to) for that money, otherwise you will spend as you go which is counterproductive. A grand plan allows you to plan where you will allocate money rather than plugging holes along the way with smaller sums. I've made this mistake... Not all of my businesses have been smash hits."

Cash flow edicts aside, one of Bethenny's best business bites is this: "Don't grab for something/anything because you are trying to find your business calling. Do something that you are passionate about that you truly believe can be successful." And make you filthy, stinking rich?

What's next on Bethenny's business plan? Keep tabs on her using our Tweet Tracker.